Permian Basin idles 12 rigs

Published 4:13 pm, Friday, April 24, 2015

Drilling rigs along Business 20 are pictured in the fog near Odessa on March 10, 2015.

Drilling rigs along Business 20 are pictured in the fog near Odessa on March 10, 2015.

Photo: Rye Druzin/Reporter-Telegram

Permian Basin idles 12 rigs

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The number of rigs exploring for oil and natural gas in the Permian Basin fell 12 this week to 246, according to the weekly rotary rig count report released Friday by Houston-based oilfield services company Baker Hughes.

District 8 ended the week at 148, down eight. There were 28 rigs in Midland County, down two; four in Ector County, up one; 10 in Andrews County, up one; 15 in Glasscock County, down four; 11 in Howard County, up one; 20 in Loving County, up one; 15 in Martin County, down two; and 21 in Reeves County, unchanged. District 8's rig count is down 52.87 percent this year.

District 7C closed the week at 39 rigs, down two. There were 11 rigs in Reagan County, unchanged; and 22 in Upton County, down two. District 7C's rig count is down 58.51 percent this year.

The Permian Basin's rig count has fallen 57.74 percent this year. A year ago this week, there were 542 rigs in the Permian.

TEXAS

Texas' count was 393 this week after 19 rigs were idled, bringing the statewide total below 400 for the first time since the week ending Oct. 23, 2009, when Baker Hughes reported 398 rigs.

In other major Texas basins, there were 115 rigs in the Eagle Ford, down eight; 29 in the Haynesville, up two; 18 in the Granite Wash, up one; and six in the Barnett, unchanged.

Texas had 894 rigs at this time last year.

UNITED STATES

The number of rigs nationwide fell 22 this week to 932.

There were 703 oil rigs, down 31; 225 natural gas rigs, up eight; and four rigs listed as miscellaneous, up one.

By drilling trajectory, there were 121 vertical rigs, down one; 720 horizontal rigs, down 21; and 91 directional rigs, unchanged.

There were 895 rigs on land, down 22; three in inland waters, down one; and 34 offshore, up one. There were 33 rigs in the Gulf of Mexico, up one.

TOP 5s

The top five states by rig count this week were Texas; Oklahoma with 115, down three; 78 in North Dakota, down five; 74 in Louisiana, up two; and 49 in Pennsylvania, up one. New Mexico fell out of the top five after idling one rig, bringing its count to 48.

The top five basins were the Permian; the Eagle Ford; the Williston with 79, down five; the Marcellus with 69, unchanged; and the Cana Woodford with 41, up one.

CANADA AND NORTH AMERICA

The number of rigs in Canada fell one this week 79. There were 16 oil rigs, down four; 63 natural gas rigs, up three; and zero rigs listed as miscellaneous, unchanged. There were 168 rigs in Canada a year ago this week.

The total number of rigs in North America fell 23 this week to 1,011. There were 2,029 rigs in North America at this time last year.

MORE ENERGY NEWS

Don't miss the oil report in Sunday's Reporter-Telegram. This week's big six stories:

-- Big Dog Drilling takes delivery of a new walking rig.

-- Plans are in the works to establish a West Texas Women's Energy Network chapter.

-- Find out how low oil prices are squeezing jobs in Dallas.

-- Alex Mills shares his views on the EIA's projection of continued volatility in oil prices.